Lmcg Investments LLC Acquires 902 Shares of Devon Energy Corporation $DVN

Lmcg Investments LLC grew its holdings in Devon Energy Corporation (NYSE:DVN) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,984 shares of the energy company’s stock after acquiring an additional 902 shares during the period. Lmcg Investments LLC’s holdings in Devon Energy were worth $1,654,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DVN. Ameriprise Financial Inc. grew its position in Devon Energy by 81.1% in the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock worth $188,131,000 after acquiring an additional 2,252,918 shares in the last quarter. Vanguard Group Inc. grew its position in Devon Energy by 2.6% in the first quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock worth $3,096,000,000 after acquiring an additional 2,098,568 shares in the last quarter. Nuveen LLC bought a new stake in Devon Energy in the first quarter worth approximately $69,975,000. AQR Capital Management LLC grew its position in Devon Energy by 100.0% in the first quarter. AQR Capital Management LLC now owns 3,558,362 shares of the energy company’s stock worth $132,051,000 after acquiring an additional 1,779,382 shares in the last quarter. Finally, Encompass Capital Advisors LLC bought a new stake in Devon Energy in the first quarter worth approximately $63,561,000. 69.72% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares in the company, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Devon Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. BMO Capital Markets upped their price objective on shares of Devon Energy from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. William Blair assumed coverage on shares of Devon Energy in a report on Monday, August 25th. They set an “outperform” rating for the company. Wolfe Research upped their price objective on shares of Devon Energy from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, June 23rd. Finally, Barclays decreased their price objective on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday. Sixteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.81.

Devon Energy Price Performance

NYSE:DVN opened at $32.54 on Friday. The stock has a market cap of $20.65 billion, a P/E ratio of 7.29, a PEG ratio of 1.89 and a beta of 1.03. Devon Energy Corporation has a one year low of $25.89 and a one year high of $43.29. The company has a fifty day moving average price of $34.53 and a 200 day moving average price of $33.07. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. Analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.24 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. Devon Energy’s dividend payout ratio is currently 21.52%.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.